Smith also conspired with others to launder approximately US$128 million of proceeds that were obtained as a result of the wire fraud scheme, and he in fact laundered those millions of dollars. The purpose of the money laundering engaged in by Smith and his conspirators was to conceal and disguise the nature, the location, the source, the ownership, and the control of the proceeds of the wire fraud. During the entire time that Smith operated his Ponzi scheme, the only source of income for he and his wife was from investors' funds. Smith's operation of the Ponzi scheme effectively ended on July 15, 2008, when the Royal Turks and Caicos Police Force, Financial Crimes Unit, executed search warrants at Smith's place of business and residence in Providenciales, Turks and Caicos Islands. The arrest of Smith and his indictment in the US resulted from a collaboration among the US Attorney's Office, the Financial Crimes Unit of the Royal Turks and Caicos Police Force, the Financial Services Commission in Jamaica, the Special Investigation and Prosecution Team in Turks and Caicos, and the governments of the United Kingdom, Turks and Caicos, and Jamaica. Additional support has been provided by the United States' Commodity Futures Commission and the National Futures Association.